Cleveland, The Medical Capital

700+Biotech, HIT, and Medical Device Businesses

Cleveland’s biomedical industry has grown from 300 companies in 2002 to more than 700 companies today. Imaging, orthopedics, neurostimulation, cardiovascular, biomaterials, health IT, biosensors, and regenerative medicine have attracted the attention of investors and key opinion leaders.

230,000Healthcare and Bioscience Workers

Northeast Ohio is home to 25 universities that offer graduate and undergraduate programs, as well as certificates and diplomas, serving the region’s healthcare, health IT and bioscience industry. Since 2006, these institutions have graduated more than 18,000 bioscience workers.

$2 billionInvested in 400 Bioscience and Health IT Start-Ups

Since 2001, early-stage bioscience and health IT companies have raised over $2.3 billion, and the innovation and economy continues to grow.

59%Bioscience Industry Grew 59%

Cleveland’s biomedical industry, a $5.6 billion sector, grew 59% from 2000-2016.

38Area Bioscience Investors

Acquire Investments
Akron ARCHAngel Network
Akron BioInvestments Funds
Arsenal Venture Partners
Blue Point Capital
Bridge Investment Fund
Cascade Partners
Cleveland Clinic Biovalidation Fund
Digital C
Draper Triangle Ventures
Early Stage Partners
Edgewater Capital
Edison Partners
Everett Partners
Glengary Ventures
Global Cardiovascular Innovation Center
Hopen Life Science Ventures
JumpStart Funds
Kirtland Capital Partners
Linsalata Capital Partners
Mutual Capital Partners
NDI Healthcare Fund
NewVista Group
North Coast Angel Fund
North Coast Venture Fund
Ohio Innovation Fund
Primus Capital
RIK Enterprises
Riverside Company
RiverVest Ventures
RMS Investment Corporation
Roulston Ventures
Second Generation
The Harrington Institute
The Innovation Fund of LCCC (GLIDE Fund)
Valley Growth Ventures
Zapis Capital Group

96International and National Investors in Cleveland Biomedical Companies

3X5 Partners
ABS Capital Partners
Accipiter Capital Management
Advantage Capital Partners
Aisling Capital
Allos Ventures
Ampersand Capital Ventures
Amphion Innovations
Arix Bioscience
Aspire Capital
Austin Ventures
Bain Capital Ventures
Baird Capital Partners
Beecken Petty O’Keefe & Company
Behrman Capital
Blue Chip Venture Company
Boston Scientific
Capital Resource Partners
Charter Life Sciences
Chrysalis Ventures
CID Capital
Clayton Dubilier & Rice
CompuGroup Medical
Cortec Group
Cowen Group
Cressey & Company
Drive Capital
DSM Venturing
DW Healthcare Partners
Easton Capital Investment Group
EDG Partners
Excel Venture Management
Fidelity Biosciences
First Analysis
Fletcher Spaght Ventures
Foundation Medical Partners
Francisco Partners
Goldman Sachs
Great Point Partners
Health Velocity Capital
HealthCare Ventures
Heritage Group
HLM Venture Partners
Investor Growth Capital
Kearny Venture Partners
Kentucky Seed Capital Fund
Life Sciences Capital
Maverick Capital
Mayport Venture Partners
MB Venture Partners
MPM Capital
MSD Capital
Nautic Partners
New Science Ventures
North Peak Capital
Norwich Ventures
Oak Investment Partners
Ohio TechAngels
Orbimed Advisors
Palo Alto Investors
Pappas Ventures
Polaris Partners
Psilos Group
Queen City Angels
RA Capital
Radius Ventures
Rev1 Vetures
River Associates Investments
River Cities Capital Fund
Santé Ventures
Siemens Venture Capital
Summit Partners
Sunrise Equity Partners
SV Life Sciences
SWMF Life Science
Takeda Ventures
Tekla Capital Management
Tenex Capital
The Compass Group
Thoma Bravo
McNerney & Partners
Tiberius ll
Toucan Capital
TPG Biotech
Triathlon Medical Venture Partners
TriStar Technology Ventures
Venture Investors
Vivo Capital
Welsh Carson Anderson & Stowe
West Capital Advisors
Western Technology Investment
Xeraya Capital


In 2017, Cleveland gained another unicorn, CoverMyMeds, when it was acquired by McKesson for $1.1 billion. In 2015, Cleveland witnessed a record number of bioscience acquisitions totaling $4+ billion. Notable exits include CardioInsight to Medtronic, Explorys to IBM, and EnvisionRX to Rite Aid.

Since 2001, the region has seen 65 medical device, biotech, and health IT & services exits.

The Medical Capital

Cleveland, The Medical Capital, is home to internationally renowned clinical, educational, and research institutions, supportive philanthropies, government and economic development engines, funding, talent, strong biomedical innovation and an abundant workforce. Learn more at TheMedicalCapital.com.

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